The typical US homebuyer’s monthly mortgage payment reached a record high in April, according to real estate company Redfin. However, losses for the quarter are expected to narrow to $21 million-$30 million compared to the previous quarter’s $90 million. The limited inventory of homes and higher mortgage rates have contributed to a decrease in activity in the housing market. Prospective buyers are being sidelined, while existing homeowners are hesitant to sell due to the lower mortgage rates they secured in previous years. – Redfin https://www.redfin.com/– RedfinNow https://www.redfin.com/city/45560/OR/Portland/monthly-homes-for-sale– Wall Street https://www.wsj.com/– Glenn Kelman https://www.linkedin.com/in/g-kelman/– US housing market https://www.cnbc.com/us-housing-market/– Mortgage rates https://www.bankrate.com/mortgages/rates/– Housing affordability https://www.nar.realtor/research-and-statistics/housing-statistics

Source: Wall Street Journal August 05, 2023 05:09 UTC